Home/Commodities/Newsfeed

Oil Caught Between Ukraine and Libya

Share Print 0

Crude oil prices rose in early Monday trading amid tensions in Ukraine, but fell again after Libyan protesters ended their occupation of an oil port.

The price of Brent crude futures briefly rose above $108 a barrel, but later fell back to $107.30.

Libya’s state oil firm said the port of Zawiya and its refinery had reopened and were operating normally.

But pro-Russian militants are still occupying buildings in eastern Ukraine, ignoring a deadline to leave by Kiev.

EU foreign ministers are meeting to discuss new sanctions against Russia.

Brent crude oil was trading at $107.74 a barrel at 12:30 BST, up 41 cents or 0.4%, while West Texas Intermediate crude was trading little moved at $103.62.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

Back to Top